Rodas and Walker were in a Porsche Carrera GT that ultimately crashed and exploded in Santa Clarita, California, on November 20, 2013.
The actor was in the passenger seat of the car at the time, and both men were pronounced dead at the scene.
"The amount paid by the estate of Roger Rodas into a trust for Meadow Walker only covers a fraction of what her father would have earned as an international movie star had his life not tragically been cut short," Meadow's lawyer Jeff Milam said in his statement.
The settlement comes days after Rodas' widow Kristine lost her unrelated legal battle against Porsche after a court judge dismissed the car manufacturer of all four vehicle defect claims, reported People magazine.
Walker and her legal team have already announced they will "continue to fight to hold Porsche accountable" in the teenager's own lawsuit, filed in September.